The Rockets will not make it official until the end of one-week period to consider the offer sheet, but Morey wasted little announcing the team’s decision

"We had a plan in February to bring our guys back, a pretty straight-forward plan," Morey said of the Rockets’ planning at the trade deadline when they chose to move into luxury tax territory to keep the team together. "We feel like we’re going to have a special year. Kyle and Luis (Scola, also a restricted free agent) are a big part of that."

Lowry’s deal is worth $23.5 million over four years, according to a person familiar with the contract. The final season of the contract is worth $6.25 million, with $1 million guaranteed.

The Rockets did not make offers to Lowry or Scola since the qualifying offers that maintained their rights to match any offer sheet they would receive as free agents. Morey said the team has discussed numbers with Scola, though he would not characterize those talks as an offer. He said the Rockets will also match any offer made to Scola.

"For Kyle, it’s been a whirlwind through the last 24 hours," Lowry’s agent Andy Miller said. "From my perspective, obviously they had the right to match and they exerted their right. You never know until you know. Otherwise they wouldn’t have the process. I didn’t know 50/50, 80/20. I had no idea until you go through the process.

"I think for me that was the most disappointing part of the process is we did not engage in a full blown negotiation. The team was adamant they love him and want him back and what a priority that was. Despite the position they would match under any circumstance, they did not engage in a negotiation to the same extent that they talked about him. That’s their prerogative."

Lowry, acquired in a three-team trade in Feb. 2009, averaged 9.1 points and 4.5 assists in 68 games with the Rockets last season.

"He’s really, really important to us," Rockets coach Rick Adelman said. "He brings energy off the bench. He plays with Aaron (Brooks) some. We was a real key to what we did last year.

"We have to try to keep the guys who were key guys in our rotation. Otherwise, we’re going to take a step back."

The Rockets are still hoping to add a backup center and have made an offer to Bulls free agent Brad Miller. Miller’s agent Mark Bartelstein said Wednesday that nothing had changed, with Miller continuing to consider his options including the Rockets.

"We really have an unknown with Yao (Ming)," Adelman said. "We didn’t know how he’s going to come along. The one area we have a big hole is, what are we going to do at the center spot. It’s still a real, real question mark.

We looked at all the big guys out there. We don’t want to go through the season again having to play Chuck (Hayes) or that small again there (at center). I think it wore us down."